Help for Homeowners Facing Foreclosure Everyone seems to agree that flooding the market with empty, foreclosed homes does not help neighborhoods maintain stability – either as a way of living, or regarding the value of homes. Empty homes do nothing for a neighborhood. Recently some organizations are taking tentative steps to allow homeowners who are defaulting on their mortgage to remain in their homes –at least for the time being. Fannie and Freddie Mac have announced that they are freezing foreclosure sales until after the new year while they review strategies and the future of their organizations. J.P. Morgan Chase & Co. and Citigroup Inc. recently announced foreclosure-prevention programs that aim to reduce interest rates, extend repayment schedules and, in the case of Citigroup, reduce loan amounts, to help borrowers keep their homes. But the programs have focused primarily on loans wholly owned by those companies because they feel they have more authority to rework those mortgages. HSBC is also making more options available to more people. For example, it is contacting customers before their adjustable-rate loans reset to higher rates and freezing the current rate or allowing the borrower to pay a rate below what the new rate would be. The bank also is lowering fixed rates for selected borrowers. All this in an effort to stave of foreclosures. One way of stabilizing markets where supply exceeds demand is to regulate supply. That way the people who can buy homes can buy from sellers who can’t afford to stay in their current home. But, amazingly enough, new home construction is still going on – even in saturated markets. Merrill Lynch economist David Rosenberg suggests, only half-jokingly, that the Treasury should impose a moratorium on home building. "It sounds like lunacy, but we have to destroy the housing capital stock to help put a floor under the market," he said. About Lauree Bradway Lauree Bradway is affliated with Lauree Bradway & Associates LLC Real Estate, which is located in Summerville, SC. For further assistance please use the contact information located on the right. As of 03/14/10 the Lauree Bradway RePage is ranked at 706 with 430 points. The monthly top RePage owner will receive a cash prize. Help this agent by bookmarking this site and posting it to blogs and other Web pages and encourage others to visit.

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601 South Magnolia St., Summerville SC

Local Information for Summerville, SC

Latitude: 33.008154 -- Longitude: -80.182891

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ZIP Codes for Summerville, South Carolina	29483  29484  29485
Area Code for Summerville, South Carolina	843
Time zone for Summerville, South Carolina	EST

Other Area Cities:   Summerville, SC  Goose Creek, SC  Hanahan, SC  Ladson, SC  North Charleston, SC  Moncks Corner, SC  Charleston, SC 

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Summerville is a city located in Dorchester County, South Carolina, United States, though inhabitants often refer to it as a town. In 2005, however, the Census Bureau estimated the population at 37,714. The city functions as a distant suburb of Charleston, SC; and has thus experienced rapid population growth. By 2010, Summerville is projected to have a population of 43,756, an increase of 15,694 over the 2000 population. As defined by the U.S. Census Bureau, Summerville is included within the Charleston-North Charleston Urbanized Area and the Charleston-North Charleston Metropolitan Statistical Area. It has the fourth largest city limit population within this metro after Charleston, North Charleston, and Mount Pleasant. -- Source: Wikipedia.com